Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/17732
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dc.contributor.authorAmbrey, C-
dc.contributor.authorFleming, C-
dc.date.accessioned2019-04-13T03:37:45Zen
dc.date.accessioned2014-02-24T01:51:28Zen
dc.date.available2014-02-24T01:51:28Zen
dc.date.issued2014-05-
dc.identifier.urihttps://hdl.handle.net/10620/17732en
dc.identifier.urihttp://hdl.handle.net/10620/3892en
dc.description.abstractEmploying the life satisfaction approach to value physical health, this paper illustrates the use of a subset of windfall income (restricted windfall income) as a substitute for the more conventional household income monetary measure. Results provide no evidence against the exogeneity of restricted windfall income and indicate that the causal effect of income on life satisfaction is substantially higher (and willingness-to-pay estimates substantially lower) when restricted windfall income is used. Further research should be devoted to looking into the presence and size of measurement errors in restricted windfall income. If this bias is large, then the quest for valid and strong instruments will continue.en
dc.subjectSatisfaction -- Lifeen
dc.subjectHuman Capital -- Healthen
dc.subjectIncome & Finance -- Other incomeen
dc.titleThe causal effect of income on life satisfaction and the implications for valuing non-market goodsen
dc.typeJournal Articlesen
dc.identifier.doi10.1016/j.econlet.2014.01.031en
dc.identifier.urlhttp://www.sciencedirect.com/science/article/pii/S0165176514000457en
dc.identifier.surveyHILDAen
dc.description.keywordsIncomeen
dc.description.keywordsHappinessen
dc.description.keywordsHealthen
dc.description.keywordsHousehold, Income and Labour Dynamics in Australia (HILDA) surveyen
dc.description.keywordsInstrumental variableen
dc.description.keywordsLife satisfactionen
dc.identifier.journalEconomics Lettersen
dc.identifier.volume123en
dc.description.pages131-134en
dc.identifier.issue2en
local.identifier.id4330en
dc.title.bookEconomics Lettersen
dc.subject.dssHealth and wellbeingen
dc.subject.dssIncome, wealth and financesen
dc.subject.dssmaincategoryHuman Capitalen
dc.subject.dssmaincategorySatisfactionen
dc.subject.dssmaincategoryIncome & Financeen
dc.subject.dsssubcategoryOther incomeen
dc.subject.dsssubcategoryLifeen
dc.subject.dsssubcategoryHealthen
dc.subject.flosseIncome, wealth and financesen
dc.subject.flosseHealth and wellbeingen
dc.relation.surveyHILDAen
dc.old.surveyvalueHILDAen
item.openairetypeJournal Articles-
item.grantfulltextnone-
item.fulltextNo Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
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